Nabors Industries (NYSE:NBR) Stock Rating Upgraded by Wall Street Zen

Nabors Industries (NYSE:NBR) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday, Wall Street Zen reports.

NBR has been the subject of a number of other research reports. Susquehanna restated a “neutral” rating and issued a $91.00 price objective (up from $85.00) on shares of Nabors Industries in a research report on Monday, October 5th. Citigroup reduced their target price on Nabors Industries from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Wednesday, November 4th. Barclays set a $93.00 target price on Nabors Industries and gave the company an “equal weight” rating in a research note on Wednesday, August 5th. Weiss Ratings raised Nabors Industries from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 13th. Finally, Morgan Stanley set a $110.00 price target on Nabors Industries in a report on Thursday, August 20th. Two research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Nabors Industries has a consensus rating of “Hold” and a consensus price target of $104.14.

Nabors Industries Stock Up 0.2%

Shares of NYSE NBR opened at $73.35 on Friday. Nabors Industries has a 52-week low of $44.04 and a 52-week high of $112.90. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.64 and a current ratio of 1.77. The stock has a market cap of $1.11 billion, a P/E ratio of -15.77 and a beta of 1.09. The firm has a 50 day moving average price of $83.65 and a 200 day moving average price of $84.54.

Nabors Industries (NYSE:NBR) last posted its earnings results on Wednesday, October 28th. The oil and gas company reported ($1.24) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($1.10). The firm had revenue of $872.19 million during the quarter, compared to analyst estimates of $859.20 million. Nabors Industries had a negative return on equity of 3.98% and a negative net margin of 1.17%. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the business posted $16.85 earnings per share. Analysts expect that Nabors Industries will post -3.87 EPS for the current year.

Insider Activity at Nabors Industries

In related news, Director David Tudor sold 3,200 shares of the business’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $92.30, for a total value of $295,360.00. Following the sale, the director directly owned 5,264 shares of the company’s stock, valued at approximately $485,867.20. The trade was a 37.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 5.32% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Nabors Industries

Large investors have recently added to or reduced their stakes in the company. IFP Advisors Inc boosted its position in Nabors Industries by 106.6% during the 2nd quarter. IFP Advisors Inc now owns 436 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 225 shares during the last quarter. State of Wyoming bought a new position in shares of Nabors Industries during the 3rd quarter worth approximately $41,000. State of Alaska Department of Revenue bought a new position in shares of Nabors Industries during the 3rd quarter worth approximately $41,000. EverSource Wealth Advisors LLC raised its holdings in shares of Nabors Industries by 29.3% in the first quarter. EverSource Wealth Advisors LLC now owns 622 shares of the oil and gas company’s stock valued at $54,000 after purchasing an additional 141 shares during the last quarter. Finally, Allworth Financial LP raised its holdings in shares of Nabors Industries by 16.9% in the second quarter. Allworth Financial LP now owns 1,134 shares of the oil and gas company’s stock valued at $95,000 after purchasing an additional 164 shares during the last quarter. Institutional investors own 81.92% of the company’s stock.

Nabors Industries Company Profile

Nabors Industries Ltd. is a global provider of drilling and well-construction services to the oil and gas industry. The company operates land-based drilling rigs and offshore drilling units, serving exploration and production companies developing conventional and unconventional oil and natural gas resources.

Its services and products include contract drilling, directional drilling, measurement-while-drilling and logging-while-drilling technologies, wellbore placement, and drilling-related equipment.